Fareway Stores, Inc. now helps full-time employees pay down their student loans.
The new program, referred to as Fareway Fast Forward, is intended to help alleviate financial stress associated with the repayment of student loans.
Eligible full-time employees may receive up to $100 per month towards their student loans. The benefit will be administered by a third party and payments will be made directly to the student loan company and applied to the principal balance of the loan.
The lifetime benefit for an employee is $5,000, or the equivalent of 50 months of payments. To be eligible to participate in the program, an employee must have full-time status and complete a 45-day elimination period after becoming full-time.